Ultrasonic sensors have always remained as the vanguard of technical innovations in numerous end-user industries such as medical, aerospace, oil and gas, and military. Continuously catapulting applications of the ultrasonic sensor in the oil and gas sector has profoundly increased the demands in the global ultrasonic sensors market according to a market research report published by IndustryARC. As per the report, the global ultrasonic sensor market size was assessed at $3.62 million as of 2018. With increasing demands from the healthcare, automotive, and oil and gas sector, the ultrasonic sensor market growth is evaluated to leap at the compound annual growth rate (CAGR) of 9.56% through the forecast period of 2019 to 2025.
The report is titled “Ultrasonic Sensor Market: By Product Type (Proximity Detection, Range Measurement, Others); By Application (Anti-Collision Detection, Distance Measurement, Liquid Level Measurement, Others); By End User (Automotive, Food and Beverage, Others) & Geography - Forecast (2019-2025).” The report contains comprehensive insights related to the latest developments, strategies, trends, outlook, demands, forecast, and geographical distribution in the market.
Global Ultrasonic Sensor Market: Leading Segments
The APAC region is the dominating leader in the global ultrasonic sensor market. The presence of continuously developing manufacturing and automotive giants in the region is a crucial factor responsible for increasing demands. Asia-Pacific grabs 26.62% of the global ultrasonic sensor market share. Opportunities for ultrasonic sensors are incrementing in the automotive industry owing to the increased awareness towards safer automobiles.
Considering the applications, the automotive sector among other end-user industries find the highest magnitude of application in the global ultrasonic sensor market. The application CAGR is chronicled to be increasing at 11.96% through to 2025. On-board ultrasonic sensors are being offered in vehicles to provide features such as parking assistance, collision avoidance, object detection, automatic braking, and safety alarms. Hence, with the inclusion of advanced driver assistance system (ADAS) in automotive industry, the ultrasonic sensor vendors will generate considerate profits.
Global Ultrasonic Sensor Industry Analysis
Ultrasonic sensors or ultrasonic transducer are a type of acoustic sensor that transmits or emits ultrasonic energy. Ultrasonic sensors are used in the healthcare industry for medical ultrasonography. Growing instances related to abdominal diagnostics including pelvis, cardiology, orthopaedics, and ophthalmology is driving the ultrasonic sensor market.
Global Ultrasonic Sensor Market Trends
Automatic Mobile Trolley: Growing investment in the technical domains has led to the introduction of automatic mobile trolleys. These trolleys are equipped with techniques that track the human movement and follows it. This is one of the latest emerging trends in both the developed and developing nations. With changing lifestyle and rising disposable income among the people, the trend is likely to spread tremendously which will subsequently fuel the demands in the adjacent ultrasonic market.
Obstacle Avoidance for Quadcopter: Applications of drones are incrementing exuberantly and end-user industries such as military, sports, entertainment, and travel sector are the key reasons for growth in the demands for the quadcopter. Advancement in the techniques has equipped the quadcopter with ultrasonic wave sensor. These sensors are helping in optimizing the path of the quadcopter by emitting ultrasonic waves in multiple directions which detects possible obstacles in the path of the drone and further diverts the movement of the drone. Since the popularity of drones is still on a rise, the ultrasonic sensor-equipped drones will prompt significant profits in the global ultrasonic sensor market.
Global Ultrasonic Sensor Market: Competitive Landscape
Some of the key companies identified in the report that are currently ahead of the curve in the Ultrasonic Sensor market are Siemens AG, Pepperl+Fuchs, Honeywell International Inc., Cambridge Ultrasonics, Hielscher Inc., Baumer Ltd., Crest Ultrasonics Corp., Branson Ultrasonic Corp., Inrix Inc., Rockwell Automation and Murata Manufacturing Co. Ltd.
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What can you expect from the report?
The global ultrasonic sensor market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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